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Whoever wins the election, faces managing horrific debt!

(33 Posts)
Cossy Sat 25-May-24 11:40:52

Wyllow3

I hope people accept that what Starmer can do will be limited and slow.

One reason he comes across to some - not me - as uninspiring - is that he doesn't make grandiose "oven ready" promises. That just makes me trust him more, not less.

Me too.

LizzieDrip Sat 25-May-24 11:36:47

I agree with the comments above but, of course, KS and the Labour Party will, no doubt, be vilified when they don’t make everything better overnight. I’m sure there are many in the country, including here on GN, who can’t wait to stick the knife in.

DiamondLily Sat 25-May-24 11:26:09

Smileless2012

Also help with energy bills.

Yep, because of the Ukraine/Russian conflict, fuel bills were propped up, and then there was the cost of living handouts.

There’s not a money tree - all this increased the debt.

I’m not saying any of it was wrong, but it hasn’t helped.

Wyllow3 Sat 25-May-24 11:20:59

I hope people accept that what Starmer can do will be limited and slow.

One reason he comes across to some - not me - as uninspiring - is that he doesn't make grandiose "oven ready" promises. That just makes me trust him more, not less.

Smileless2012 Sat 25-May-24 11:20:49

Also help with energy bills.

Chestnut Sat 25-May-24 11:20:34

I'm afraid I don't understand any of this because we are supposed to be one of the richest countries in the world and people keep saying we can afford to help other countries and support endless migrants trying to come here. If anyone can explain how all this hangs together and works I'd be very grateful.

DiamondLily Sat 25-May-24 11:19:28

I think also that vast amounts were spent during Covid - prop ups, furlough, handouts, grants, and wasted on dodgy contracts and a track and trace saga that never worked.

It was obvious that it would increase our debt.

Most countries lost a lot of money, but it’s taking us longer than some to recover.☹️

CvD66 Sat 25-May-24 11:15:28

Public sector debt is currently £703 billion with poor GDP - with levels of debt payment not seen since 1950s (source IMF). The Tories were talking about a 10% cut in public service spending, in a climate where public services are collapsing. Yet at the same time there were hints of tax cuts which are irresponsible with this level of debt.
Whoever gets into power has a huge challenge of managing this debt and finding resources for desperately needed improvements to education, NHS, water services etc.
We will be paying the price for the stupid over spend on many stupid Tory disasters including Rwanda, Rushi’s helicopter mini trips and the Truss catastrophe for years to come….when the country will be expecting Starmer to work miracles.